From the metal space -- Sterlite and Hindalco jumped 1.7% each, followed by Tata Steel. Jindal Steel and Power however slipped in trades.

On the losing side, Reliance was the biggest dragger, accounting for a 30

points fall on the Sensex.

Reliance Industries, which is sitting on over Rs 75,000 crore in surplus cash, today launched an issue of bonds in Hong Kong and Singapore markets to raise a minimum $500 million (around Rs 2,700 crore), company sources said.

Among individual stocks, Idea Cellular's share price will rise relative to the Sensex and the Nifty over the next 15 days on the back of "positive" October-December earnings, Morgan Stanley said in a note on Friday. Shares of Idea dipped 0.5% at Rs 113.

Cairn India rose 1.5% at Rs 328 as US crude oil futures traded near the highest level in four months on speculation that a global economic recovery will boost fuel demand.

The government on 17 January 2013 allowed PSU OMCs to increase diesel prices by a small margin from time to time, a decision aimed at reducing the government's oil subsidy burden and fiscal deficit and improving the government's finances. Oil marketing companies dipped with HPCL and BPCL dropping around 1-2% each.

Meanwhile, Bharti Airtel has moved Bombay HC against one-time spectrum fee. Shares of Bharti slipped half a per cent to Rs 358.

Shares of companies engaged in delivering education on information technology platform are in limelight on the bourses. Everonn Education, Educomp Solutions, MT Educare, NIIT and Aptech have rallied up to 18% on the back of huge volumes.